1603 Cooper Ave · Saginaw, MI 48602

$65,000

3 bd · 1.0 ba · 894 sqft · SingleFamily public records · 336 Days on market

Built 1924 7,405 sqft lot Est $61k · 7% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.4/15.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom tenant occupied investment opportunity. Fenced backyard with ample space for long haul walks and much room for relaxing enjoyment. Located near Herig Elementary School, Court Street Theater, Saginaw Art Museum, Bliss Park, grocery stores and other points of interest. Please do not approach home without appointment or disturb the tenant legal right to peaceful enjoyment. Contact your agent about Showing appointment after offer submission based upon inspection. As is sale with Warranty Deed transfer. $495 transaction fee buyer payable at closing. ~Buyer agent to verify all information and water read~

Key facts

• 7,405 sq ft lot
• Built 1924
• Listed 336 days

Property features AI

Finance

• Other: Lot approximately 60 x 120 (0.17 acre)

Exterior

• Parking: Alley access; Driveway; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Aluminum and vinyl siding
• Construction: Block foundation
• Exterior features: Covered porch; Asphalt roof; Paved road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Other interior features; Unfinished basement
• Laundry & utility: Electric dryer hookup; Gas dryer hookup; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 8.3% in Saginaw — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#521 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Saginaw School District (urban): math 20% / reading 29% proficiency, ranked #444 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+4.0%/yr); 250 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $38k; list at $65k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.61% ✓
• Cap rate: 12.80%
• Cash-on-cash: 23.25%
• DSCR: 2.03
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $60,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1608 Congress Ave	0.20mi	3/1.0	948 (+6%)	3mo	$64,000	$68	78
1523 W Genesee St	0.34mi	3/1.0	936 (+5%)	3mo	$53,500	$57	74
1719 N Charles St	0.34mi	3/1.0	960 (+7%)	1mo	$37,000	$39	71
2209 Cooper Ave	0.38mi	3/1.0	936 (+5%)	7mo	$75,000	$80	69
1815 W Genesee	0.36mi	2/1.0 (-1)	818 (-8%)	1mo	$74,000	$90	63
2138 N Clinton St	0.56mi	3/1.0	912 (+2%)	10mo	$77,000	$84	63
2105 Mershon St	0.46mi	2/1.0 (-1)	822 (-8%)	5mo	$120,000	$146	56
2312 Durand St	0.59mi	2/1.0 (-1)	849 (-5%)	4mo	$24,750	$29	56
2125 State St	0.54mi	3/1.0	986 (+10%)	4mo	$40,200	$41	54
1715 Hancock St	0.63mi	2/1.0 (-1)	970 (+8%)	1mo	$42,500	$44	51
2022 Benjamin St	0.51mi	3/1.0	1,016 (+14%)	4mo	$35,000	$34	50
2250 Mershon St	0.60mi	2/1.5 (-1)	1,005 (+12%)	6mo	$104,000	$103	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 1.71×
• Total profit: $12,992
• Equity at exit: $9,692

10-year hold

• IRR: 26.6%
• Equity multiple: 3.46×
• Total profit: $44,699
• Equity at exit: $5,620

Cash invested: $18,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,043 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$104 /mo · $1,245/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $353

Break-even live

Break-even rent $597

Max offer price $65,000

Occupancy floor 61%

Sensitivity live

Price	-10% $389	-5% $371	+0% $353	+5% $334	+10% $316
Rent	-10% $270	-5% $311	+0% $353	+5% $394	+10% $435
Rate	-1.0pp $385	-0.5pp $369	base $353	+0.5pp $336	+1.0pp $319

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $65,000 Active 336 DOM
2. 2026-06-18
   days on market $65,000 Active 335 DOM
3. 2026-06-17
   days on market $65,000 Active 334 DOM
4. 2026-06-16
   days on market $65,000 Active 333 DOM
5. 2026-06-15
   days on market $65,000 Active 332 DOM
6. 2026-06-14
   days on market $65,000 Active 330 DOM
7. 2026-06-12
   days on market $65,000 Active 329 DOM
8. 2026-06-09
   days on market $65,000 Active 326 DOM
9. 2026-06-08
   days on market $65,000 Active 325 DOM
10. 2026-06-07
    days on market $65,000 Active 324 DOM
11. 2026-06-05
    days on market $65,000 Active 321 DOM
12. 2026-06-03
    days on market $65,000 Active 320 DOM
13. 2026-06-02
    days on market $65,000 Active 319 DOM
14. 2026-06-01
    days on market $65,000 Active 318 DOM
15. 2026-05-31
    days on market $65,000 Active 317 DOM
16. 2026-05-30
    days on market $65,000 Active 316 DOM
17. 2025-07-26
    status Active
18. 2025-07-25
    historical
19. 2025-07-18
    listed $65,000 Active 615-char remark

    Show marketing remark (615 chars)

    3 Bedroom tenant occupied investment opportunity. Fenced backyard with ample space for long haul walks and much room for relaxing enjoyment. Located near Herig Elementary School, Court Street Theater, Saginaw Art Museum, Bliss Park, grocery stores and other points of interest. Please do not approach home without appointment or disturb the tenant legal right to peaceful enjoyment. Contact your agent about Showing appointment after offer submission based upon inspection. As is sale with Warranty Deed transfer. $495 transaction fee buyer payable at closing. ~Buyer agent to verify all information and water read~

20. 2025-07-18
    listed $65,000 Active

    Show marketing remark (615 chars)

    3 Bedroom tenant occupied investment opportunity. Fenced backyard with ample space for long haul walks and much room for relaxing enjoyment. Located near Herig Elementary School, Court Street Theater, Saginaw Art Museum, Bliss Park, grocery stores and other points of interest. Please do not approach home without appointment or disturb the tenant legal right to peaceful enjoyment. Contact your agent about Showing appointment after offer submission based upon inspection. As is sale with Warranty Deed transfer. $495 transaction fee buyer payable at closing. ~Buyer agent to verify all information and water read~

21. 2025-07-16
    historical $65,000 615-char remark

    Show marketing remark (615 chars)

    3 Bedroom tenant occupied investment opportunity. Fenced backyard with ample space for long haul walks and much room for relaxing enjoyment. Located near Herig Elementary School, Court Street Theater, Saginaw Art Museum, Bliss Park, grocery stores and other points of interest. Please do not approach home without appointment or disturb the tenant legal right to peaceful enjoyment. Contact your agent about Showing appointment after offer submission based upon inspection. As is sale with Warranty Deed transfer. $495 transaction fee buyer payable at closing. ~Buyer agent to verify all information and water read~

22. 2024-07-31
    historical
23. 2024-07-31
    historical
24. 2024-03-16
    price $54,999
25. 2024-03-16
    price $54,999
26. 2024-01-01
    status Active
27. 2024-01-01
    status Active
28. 2024-01-01
    historical
29. 2024-01-01
    historical
30. 2023-10-20
    listed $60,000 Active
31. 2023-10-20
    listed $60,000 Active
32. 2023-10-13
    historical
33. 2023-10-13
    historical
34. 2022-05-11
    soldstatus $38,000 Sold
35. 2022-05-11
    soldstatus $38,000 Closed
36. 2022-05-06
    status Pending
37. 2022-05-06
    status Pending
38. 2022-04-21
    status Active
39. 2022-04-21
    status Back on Market
40. 2022-04-14
    status Pending
41. 2022-04-14
    historical
42. 2022-04-13
    listed $34,900
43. 2022-04-13
    listed $34,900 Active
44. 2009-07-08
    soldstatus $4,500
45. 2009-07-08
    soldstatus $4,500
46. 2009-05-15
    historical
47. 2009-04-24
    listed $6,900
48. 2009-04-24
    listed $6,900
49. 2005-12-08
    historical
50. 2005-12-07
    soldstatus $48,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,245 · $104/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,521
• − Mortgage interest: −$3,641
• − Property taxes: −$1,245
• − Insurance: −$325
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$1,891
• Taxable income: $3,416
• Est. tax owed @ 24.0%: −$820
• After-tax cash flow: $3,411/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Saginaw School District
• NCES district ID: 2630390
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $28,940
• Composite: 19.6/100
• National rank: #8755
• State rank: #444 of 540 in MI

Livability — Saginaw

• Score: 63/100
• State rank: #521
• US rank: #15424

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saginaw, MI
• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,127
• Household income: $46,984
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1416.0

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 50% Black 27% Hispanic / Latino 17% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.15%
• Current HPI: 159.8807
• Rent YoY: ▲ 3.98%
• Metro: Saginaw, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+28.7% since first listed

43 events — show timeline

• 2025-07-26 Relisted — REALCOMP
• 2025-07-25 Listing Removed — REALCOMP
• 2025-07-18 Listed $65,000 MiRealSource-MiMLS
• 2025-07-18 Listed $65,000 REALCOMP
• 2025-07-16 Coming Soon $65,000 MiRealSource-MiMLS
• 2024-07-31 Listing Removed — MiRealSource-MiMLS
• 2024-07-31 Listing Removed — REALCOMP
• 2024-03-16 Price Changed $54,999 MiRealSource-MiMLS
• 2024-03-16 Price Changed $54,999 REALCOMP
• 2024-01-01 Relisted — MiRealSource-MiMLS
• 2024-01-01 Relisted — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-10-20 Listed $60,000 MiRealSource-MiMLS
• 2023-10-20 Listed $60,000 REALCOMP
• 2023-10-13 Coming Soon — MiRealSource-MiMLS
• 2023-10-13 Coming Soon — REALCOMP
• 2022-05-11 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2022-05-11 Sold (MLS) $38,000 REALCOMP
• 2022-05-06 Pending — REALCOMP
• 2022-05-06 Pending — MiRealSource-MiMLS
• 2022-04-21 Relisted — REALCOMP
• 2022-04-21 Relisted — MiRealSource-MiMLS
• 2022-04-14 Pending — MiRealSource-MiMLS
• 2022-04-14 Listing Removed — REALCOMP
• 2022-04-13 Listed $34,900 MiRealSource-MiMLS
• 2022-04-13 Listed $34,900 REALCOMP
• 2009-07-08 Sold (MLS) $4,500 MiRealSource-MiMLS
• 2009-07-08 Sold (MLS) $4,500 REALCOMP
• 2009-05-15 Listing Removed — MiRealSource-MiMLS
• 2009-04-24 Listed $6,900 MiRealSource-MiMLS
• 2009-04-24 Listed $6,900 REALCOMP
• 2005-12-08 Listing Removed — MiRealSource-MiMLS
• 2005-12-07 Sold (MLS) $48,900 MiRealSource-MiMLS
• 2005-08-16 Listed $48,900 MiRealSource-MiMLS
• 2005-07-26 Listing Removed — MiRealSource-MiMLS
• 2005-07-26 Listing Removed — REALCOMP
• 2005-01-27 Listed $49,900 MiRealSource-MiMLS
• 2005-01-27 Listed $49,900 REALCOMP
• 2003-05-12 Listing Removed — REALCOMP
• 2003-05-12 Listing Removed — MiRealSource-MiMLS
• 2002-11-12 Listed $50,500 REALCOMP
• 2002-11-12 Listed $50,500 MiRealSource-MiMLS

Property tax history

+1.3%/yr

Latest (2025): $1,245 · -7.8% YoY. Source: county tax records.